The Job Openings and Labor Turnover Survey conducted by the BLS shows job openings declining for the third straight month in Minnesota in March. Job openings, at 179,000 on a seasonally adjusted basis, are down 11,000 from February and 60,000 from March 2022 or 25.1%. This compares to a decline of 20.3% at the national level over the 12-month period.
Minnesota had 0.5 unemployed workers for each job vacancy in March. This is level with February and up from 0.3 one year ago. This indicates that Minnesota’s labor market is extremely tight, making it difficult for some employers to find workers to fill open positions. Minnesota ranks 16th tied with seven other states on this measure. Nationwide, there are 0.6 unemployed workers for each job vacancy.
